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Will there ever be a student loan bailout? - Page 9

post #161 of 282
Quote:
Originally Posted by mar123 View Post
When the first bailout happened, I heard that the money amounted to 10K for every man, woman, and child. I suggested giving every man, woman, and child 10K. Let people pay their bills, whatever those bills might be, and the money would trickle up. What sucks now is the banks have the money and the people still owe it. I can see calling my lender and asking them to apply my 10K part of the money to my bills, LOL
Yikes. If that were true, 40K would make my family very well off. We'd be debt free except for the mortgage and have some left over.

Too bad we didn't get to vote on that bailout before congress did.
post #162 of 282
Quote:
Originally Posted by mar123 View Post
I can see calling my lender and asking them to apply my 10K part of the money to my bills, LOL
if only we could.
post #163 of 282
Quote:
I'm not for any bailout. I don't have credit card debt, didn't buy a house I couldn't afford, and paid my way through school as I went, so no student loans. I really don't see why I should have to finance (through taxes) other people.


Quote:
Originally Posted by Seasons View Post
Exactly. (Except I did take on loans.)

I paid for college - and graduate school - myself (no family or spouse assistance), paying off my loans within 5 years. I scrimped and worked hard, because I wanted to payoff before I bought a home, married or had kids (with the additional financial burdens those would bring). I have no problem with people who chose a different schedule for their lives, but I also feel no responsibility to pay their way. I have a paid-off education; others have newer cars or SAH opportunities. It all balances out.

I agree.

No one was ever forced to accept a student loan.
post #164 of 282
Quote:
Originally Posted by Seasons View Post
others have newer cars or SAH opportunities. It all balances out.
I have to comment on this because it's a common misconception. I stay at home because I can't afford not to. Yes, I have a husband who pays the bills, so it's not an option for a single mom. However, if I were to work and earn what I was earning before I became a mom, and paid for daycare, and transportation, and having a presentable wardrobe (for one, I'd have to buy a bra), I would lose money by the end of the month.

ETA: I decided years ago that if I were to have children, there would be a stay at home parent because that is the way I want to raise my children, regardless of financial situation.
post #165 of 282
Quote:
Originally Posted by AndrewsMother View Post
Quote:
I'm not for any bailout. I don't have credit card debt, didn't buy a house I couldn't afford, and paid my way through school as I went, so no student loans. I really don't see why I should have to finance (through taxes) other people.





I agree.

No one was ever forced to accept a student loan.

What about the people that could afford their houses until they lost their jobs?
What about the people that had to charge their medical bills (or their food) because they didn't have health insurance and had an emergency or unforseen problem arise?
What about the doctors, lawyers, teachers, social workers, nurses, and other highly educated people that help make this country run? Do you suppose they can earn their degrees without student loans?

Please watch your generalizations.
post #166 of 282
Quote:
Originally Posted by Selesai View Post
What about the people that could afford their houses until they lost their jobs?
What about the people that had to charge their medical bills (or their food) because they didn't have health insurance and had an emergency or unforseen problem arise?
What about the doctors, lawyers, teachers, social workers, nurses, and other highly educated people that help make this country run? Do you suppose they can earn their degrees without student loans?

Please watch your generalizations.
There are several ways to go to college and not have debt it may not be as fast or the way you want to but its possible. College is a choice. Unforeseen issues have solutions also that don't involve using tax payer money to fix.
post #167 of 282
Quote:
Originally Posted by mar123 View Post
When the first bailout happened, I heard that the money amounted to 10K for every man, woman, and child. I suggested giving every man, woman, and child 10K. Let people pay their bills, whatever those bills might be, and the money would trickle up. What sucks now is the banks have the money and the people still owe it. I can see calling my lender and asking them to apply my 10K part of the money to my bills, LOL
you have it backwards, this is not money going TO the people this is money COMMING FROM the people, also the numbers are wrong.
one trillion dollars is 3,333 from every man woman and child.

Less than half of citizens pay tax, so it is more like 6,666 that every taxpayer will have to pay for the bailout.
post #168 of 282
Shaggy- your numbers would work if we were dealing with one trillion, but we are not. It is now up to 11.6 trillion, so I admit my numbers are too low. However, as I stated in my post, it was something I heard on the radio.
http://www.bloomberg.com/apps/news?p...d=aZchK__XUF84

Also, I know the money is coming from the taxpayers, I am not an idiot. I was just saying that if the people were given back their money and allowed to pay their debts, then the banks, etc. would still get the money and the people's debt would be gone. Now the banks have the money and the debt for the taxpayer is still there. It is totally screwy, IMO. Believe me, I KNOW the money is not going to the taxpayers, I was saying it should be. Maybe you misread my post?
post #169 of 282
Quote:
Originally Posted by Selesai View Post
What about the people that could afford their houses until they lost their jobs?
What about the people that had to charge their medical bills (or their food) because they didn't have health insurance and had an emergency or unforseen problem arise?
What about the doctors, lawyers, teachers, social workers, nurses, and other highly educated people that help make this country run? Do you suppose they can earn their degrees without student loans?

Please watch your generalizations.
Student loans I think is something that needs to be addressed. College costs are just ridiculous.

Other than that, it's called an emergency fund. And there are state programs for free health insurance.
post #170 of 282
Quote:
Originally Posted by Selesai View Post
What about the people that could afford their houses until they lost their jobs?
What about the people that had to charge their medical bills (or their food) because they didn't have health insurance and had an emergency or unforseen problem arise?
What about the doctors, lawyers, teachers, social workers, nurses, and other highly educated people that help make this country run? Do you suppose they can earn their degrees without student loans?

Please watch your generalizations.
I have no problems with student loans, I just don't think that the government should assist people with paying their loans just because they have lost their jobs, did not complete their education or chose a career with little to no remuneration. There are many programs currently in place that will adjust the monthly student loan payment according to income and living expenses. I know this information first has as I registered for a program a few years ago after a job loss.

Healthcare is expensive or unafforable for many, and even I was without health insurance because I chose a path in life that was not financially stable. I had to take responsibility for my actions and spend far more on healthcare than I should have due to lack of health insurance. Perhaps it might have been nice to have the governement bail me out, but why should they?

People who have lost their jobs due to the economy can't be compared to people who have made unwise decisions in life. I don't understand why the government should rescue everyone when some had financial problems long before the economy soured.

I for one do not think that college is expensive, but this is perhaps because I live in a state or have lived in a states where tuition for a year is less then $6000 at the university level and at most $2000 at the community college level. However I do think that more states should offer scholarships to students with competitive GPA's to lessen the financial burden for families, but I don't think that education should be free for all.
post #171 of 282
Quote:
Originally Posted by AndrewsMother View Post
I don't think that education should be free for all.
Perhaps this is where there is a difference of opinion on this topic. Some people maybe see education as beneficial for the community and society as a whole and worth governement (the people of the nation) funding. Other people may see it as individual choice, privalege, independent from society as a whole.
post #172 of 282
Quote:
Originally Posted by ~Purity♥Lake~ View Post
Perhaps this is where there is a difference of opinion on this topic. Some people maybe see education as beneficial for the community and society as a whole and worth governement (the people of the nation) funding. Other people may see it as individual choice, privalege, independent from society as a whole.
Some people see it as a benefit to society as a whole, others see it as a way to separate classes. :

When only the rich can afford education, what happens to the poor? Oh, yeah, they remain the underclass.
post #173 of 282
Quote:
Originally Posted by ~Purity♥Lake~ View Post
Perhaps this is where there is a difference of opinion on this topic. Some people maybe see education as beneficial for the community and society as a whole and worth governement (the people of the nation) funding. Other people may see it as individual choice, privalege, independent from society as a whole.
I do not think that education is a privilege reserved for those with money or class, but a privilege for those who want to work hard to obtain an education. I would not want my money as a tax payer used to finance the education of a student with less than 3.0 GPA every year that they are in college. There should be incentives for students who work hard and prove that they want an education.
post #174 of 282
Quote:
Originally Posted by AndrewsMother View Post
I do not think that education is a privilege reserved for those with money or class, but a privilege for those who want to work hard to obtain an education. I would not want my money as a tax payer used to finance the education of a student with less than 3.0 GPA every year that they are in college. There should be incentives for students who work hard and prove that they want an education.
But that's such a load. Children in underprivileged areas have lousy schools, which means they get a substandard education, which means they have less of a chance to do well and get scholarships and grants.

Where I live, the 'neighborhood' school is substandard, and only those of us who are in the know and have the means to get our children to the better school can get our children a better education. It involves an hour and a half commute both ways every day. For the children whose parents don't have vehicles or the money to pay for gas to get them to and from school, it isn't an option. These kids aren't even going to get a chance to earn scholarships to college when the time comes because the majority of the kids in the gradeschool aren't even learning to read or do math.

How do I know? Because my child, who was horribly behind, is now almost completely caught up after less than a school year. When we had her tested an official at the old school let it slip that out of 26 or 27 children in her class there were 3 who were at grade level in reading and math. I was supposed to be proud that my child was 4th or 5th from the top of her class even though she was technically failing. They considered this a win.

Imagine my surprise when on the first day of school, after driving my kids fort 1/2 hour to get them to the bus that takes them for the next hour of their commute, I saw all the staff members from our old school there to put their children on the same bus to go to the better school.

Children in the old school who didn't speak English were routinely ignored 4 days a week in special ed and then spent 1 day a week in English as a Second Language classes. They had no interpreters during the week, but children with handicaps had attendants all day. I don't understand how it is that not speaking the language is not considered a handicap, or doesn't merit an attendant. It isn't right.

I have also in the past, in California, made the move from a 'poor' neighboorhood to a more prestigious neighborhood for the sake of getting into a better school. The difference was huge, and my living quarters cost more for less space, but it was worth it for my child's safety, if nothing else, as where we were was kind of dangerous.

Tell me again how education has no class or financial distinctions.
post #175 of 282
Student loans are just that. A loan.

I paid off my car in full. Can't be bailed out of that.
I don't own a home, so that's irrelevant to me.
I paid off my student loans in full. Can't be bailed out of that.

Yet here I am, single mother of two, no child support, can't get state funded health insurance because I'm still legally married, can't get a childcare subsidy because there is such a long waiting list for them that they closed the waiting list, can't get a Section 8 housing voucher because they closed that waiting list too. I have two children, neither of whom are school age, so by the time I pay for childcare, I make less than minimum wage. You've got to work 40 hours a week to stay on welfare/TANF, but by the time I pay for childcare, forget it, I'm working so that someone else can watch my kids. If something medical were to happen to me...forget it. No insurance, two kids to take care of, and bills to pay. (And my bills are simple - housing, utilities, car insurance, food. That's it.)

And yes, I have a college degree. Yes, I qualify for mid-level management. The cost of two children in daycare is a wash. I'm not the only person in the country in this situation, or a situation very similar.

So I'm really sorry that I have little sympathy for people who want to be 'bailed out' of student loans. I worked through college. I lived below my means so I could pay off my student loans. I lived below my means so I could put down a large down payment on my car and then pay it off. I was responsible, and the government isn't doing a whole lot to help me out. (Although, we'll get something like $15 more in food stamps every month now. Hey, I'll take what I can get!)

I'd rather see the money go to the programs that people actually need, rather than to people who overextended themselves, or people who choose not to live within/below their means to be able to pay off their loans. Maybe someone could give me back the money I paid when I paid off my loans. I didn't choose to have a lot of the luxuries that other people have, so they should be bailed out....why?
post #176 of 282
Quote:
Originally Posted by AlwaysByMySide View Post
Student loans are just that. A loan.

I paid off my car in full. Can't be bailed out of that.
I don't own a home, so that's irrelevant to me.
I paid off my student loans in full. Can't be bailed out of that.

Yet here I am, single mother of two, no child support, can't get state funded health insurance because I'm still legally married, can't get a childcare subsidy because there is such a long waiting list for them that they closed the waiting list, can't get a Section 8 housing voucher because they closed that waiting list too. I have two children, neither of whom are school age, so by the time I pay for childcare, I make less than minimum wage. You've got to work 40 hours a week to stay on welfare/TANF, but by the time I pay for childcare, forget it, I'm working so that someone else can watch my kids. If something medical were to happen to me...forget it. No insurance, two kids to take care of, and bills to pay. (And my bills are simple - housing, utilities, car insurance, food. That's it.)

And yes, I have a college degree. Yes, I qualify for mid-level management. The cost of two children in daycare is a wash. I'm not the only person in the country in this situation, or a situation very similar.

So I'm really sorry that I have little sympathy for people who want to be 'bailed out' of student loans. I worked through college. I lived below my means so I could pay off my student loans. I lived below my means so I could put down a large down payment on my car and then pay it off. I was responsible, and the government isn't doing a whole lot to help me out. (Although, we'll get something like $15 more in food stamps every month now. Hey, I'll take what I can get!)

I'd rather see the money go to the programs that people actually need, rather than to people who overextended themselves, or people who choose not to live within/below their means to be able to pay off their loans. Maybe someone could give me back the money I paid when I paid off my loans. I didn't choose to have a lot of the luxuries that other people have, so they should be bailed out....why?
Yours is an entirely different situation. You are suffering because raising children isn't valued and the system would rather see women suffer and go through that BS than raise their own children. That is an entirely different discussion.

I would still much rather see people get a bailout for student loans and mortgages than see the fatcats get yet another bailout. The rich always get help and the working class and the poor don't. It isn't right.

The rich don't need help to stay rich.
post #177 of 282
These discussions always frustrate me because I feel like people are just saying that poor people just need big bootstraps and just aren't smart enough, responsible enough, good enough to make it all work.
post #178 of 282
Me too, Scullery.
post #179 of 282
Quote:
Originally Posted by bigeyes View Post
Yours is an entirely different situation. You are suffering because raising children isn't valued and the system would rather see women suffer and go through that BS than raise their own children. That is an entirely different discussion.

I would still much rather see people get a bailout for student loans and mortgages than see the fatcats get yet another bailout. The rich always get help and the working class and the poor don't. It isn't right.

The rich don't need help to stay rich.
It's not a different discussion, because the government is spending money. I don't think the rich should get a bailout, anymore than I think people who owe on student loans should get a bailout.

Maybe the poor should get a bailout. Maybe the child care subsidy programs in the states that have too many people on the list should get a bailout. Maybe Section 8 should get a bailout.
post #180 of 282
Quote:
These discussions always frustrate me because I feel like people are just saying that poor people just need big bootstraps and just aren't smart enough, responsible enough, good enough to make it all work.
I agree with that. I wouldn't support a bailout per se, but it is the tone of this thread that rubs me the wrong way. I would never had been able to go to law school without student loan help...the cost of tuition per year alone in most schools is more than a lot of middle-class people make in one year. I pay almost $900 per month toward my loans, but I was extremely lucky in that I got a very good position out of law school and I make a salary which justifies those payments. However, I have seen many, many people take positions that they hated in order to pay their student loans. Loan forgiveness programs in law are rare. Although I like what I do, I've come to the conclusion that it will be a long time before I can "afford" to work for groups like Legal Aid or other non-profit legal entities which provide great services to the public. Contrary to popular opinion, a lot of people who are barely able to pay their student loans are not living luxurious lifestyles or buying designer handbags.

I've been lucky, but I'm old enough and have been around long enough to know that a lot of brilliant minds are being wasted because of the prohibitive costs of getting a professional degree. Something's gotta change because I believe that colleges and professional schools are spitting out a lot of low-quality professionals simply because those people can afford to go.

Just my two cent rant.
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